The Delta State Government has attracted more than $16 billion worth of investment in its export free zone expected to create over 500,000 jobs.
The State Governor, Dr Emmanuel Uduaghan, said in Warri yesterday that investors from Saudi Arabia and India were coming to invest on petrochemical and fertiliser plants.
Uduaghan also said that the Koko Export Free Zone had been approved by the Federal Government and the issue of approval for Warri Export Free Zone was still being pursued.
He said that it was the nature of Koko as an export free zone that attracted the investors since the Federal Government/Nigerian National Petroleum Corporation (NNPC) Master plan, approved three states Rivers, Delta and Akwa Ibom for such projects.
The governor said that the factors that attracted the projects to Delta were its location and the approval of Koko as an Export Free Zone.
Uduaghan further said, “every investor is very much interested in the tax regime and there are some tax relief for companies in the export free zones.”
The governor said that the Delta government had done much in Koko by ensuring the approval of its status as an export free zone, ensuring peace and following closely the gas master plan.
He said that already, the state government had prepared grounds for the free zone by putting in place the Asaba Airport, which would assist investors to fly their equipment into the state.
Uduaghan said that Asaba-Ughelli dual carriage way project was being implemented to offer easy and fast transportation from Asaba Airport to the Koko Export Free Zone.
This was even as he said that the strategic location of Koko also would assist cargo shipping through the Benin River.
Uduaghan pointed that the Federal Government would tackle the dredging of the Benin River to allow bigger vessels to get to Koko and added that “transport infrastructure is very critical”.
On provision of constant power supply, he said that the state Independent Power Plant (IPP) project was progressing as the turbines were presently on test-run.
The governor, however, said that the important aspect of the investment was the creation of direct and indirect jobs that would bring down the unemployment rate in the state.
Uduaghan, who described the petrochemical and fertiliser plants as one of the heaviest investments in the country, said that the plants would give rise to other large and medium-scale industries in the state.
“With the cooperation of everyone, the future is very bright,” he said.
The governor, however, said that fund was the major challenge facing the state and that this would make the state government to embark on vigorous, aggressive revenue drive in the state. (NAN)